Project Europe launched on March 12, 2025. It's a $10 million fund, backed by 128 European tech founders and executives, that invests €200,000 in founders under 25 (TechCrunch, March 12, 2025). The fund takes 6.66% equity when it leads the round, and a smaller stake when it follows another investor. The project is led by Harry Stebbings, the 20VC podcast host turned investor, and its managing director is Kitty Mayo, who previously worked on Entrepreneur First's programs (Sifted).
This guide covers what the fund offers, who can apply, and what you sign if you're selected.
The idea behind Project Europe
The fund's founders start from one observation: Europe has produced few tech companies on the scale of the American or Asian giants, and its young founders often go elsewhere to raise money. Project Europe's answer is a check plus a network.
The check is €200,000 per company for 6.66% equity when Project Europe leads the investment. At that price, the implied post-money valuation is roughly €3 million. According to Sifted, the fund aims to back ten to twenty founders a year.
The network is made up of the 128 founders and executives who put money into the fund. TechCrunch lists founders from Klarna, Mistral and SoundCloud among them, and Sifted names three venture funds: 20VC, Point Nine and Adjacent. The fund raised $10 million, or €9.54 million at the exchange rate on the day of the announcement.
Nine partners as mentors
Every selected founder works one-on-one with one of the fund's nine partners. TechCrunch names three of them: Victor Riparbelli, co-founder of Synthesia; Mati Staniszewski, co-founder of ElevenLabs; and Rina Onur Sirinoglu, co-founder of Spyke Games and the only woman among the partners. Harry Stebbings is also on the list.
Beyond their assigned partner, founders can reach out to the fund's other 119 members for one-off advice, and Stebbings makes his media channels available to portfolio companies, starting with the 20VC podcast (TechCrunch).
The fund also drew criticism at launch for having just one woman among its nine partners. Kitty Mayo addressed the issue in Impact Loop.
Applications open at the idea stage
You can apply without an incorporated company: an idea or a project in progress is enough (TechCrunch). The only geographic requirement is that the company is set up in Europe. After that, it's free to move anywhere. As for the legal form, the European Commission proposed a common company status for all 27 member states in March 2026, which is still under negotiation (EU Inc, the European startup status).
Selection process and criteria
There are three criteria, all public (TechCrunch): you're under 25, your company is set up in Europe, and your project is at an early stage, whether or not a company already exists. Applications go through the fund's website, projecteurope.co. Project Europe doesn't publish its evaluation grid.
If you're selected, you sign a €200,000 investment for 6.66% equity when the fund leads the round, and a smaller stake when it follows. You also get an assigned partner from the nine and access to the other 119 members.
Before signing, compare these terms with a standard pre-seed deal. Our guide on how a VC fund works explains what an investor expects in return for their capital.
Support for startups
The program comes down to three things published by TechCrunch: the €200,000 check, one-on-one mentoring from a partner, and access to the network of 119 other members, plus media exposure through 20VC. The fund announces no fixed program length, workshop curriculum or demo day. It works as an investor with a network rather than as a cohort-based accelerator.
For a founder under 25, the useful comparison is with other pre-seed investors, looking at the price of the equity and the quality of the assigned partner. The fund offers no physical space, cohort or weekly schedule.
Frequently asked questions
Who can apply to Project Europe?
Anyone under 25 who is building, or wants to build, a tech company in Europe. An idea or a project in progress is enough; incorporation isn't required at the time of application (TechCrunch).
How much does Project Europe invest, and for how much equity?
€200,000 per company. The fund takes 6.66% equity when it leads the investment, and a smaller stake when it follows another investor (TechCrunch).
How many founders does Project Europe back each year?
Ten to twenty a year, according to Sifted, from a $10 million fund.
Do I have to stay in Europe after the investment?
No. You set up the company in Europe, and the fund places no restrictions on where it's based afterward (TechCrunch).
Is Project Europe an accelerator?
No. The fund publishes a check, an assigned partner and a network of 119 members. It announces no program length, cohort or workshops.
If you're looking for long-term founder support, in Paris or remotely, apply to swanbase: it costs €0, admission is by application, and swanbase takes equity.
